NVIDIA (NASDAQ:NVDA) Stock Price Down 4.7% on Analyst Downgrade

NVIDIA Co. (NASDAQ:NVDA) was down 4.7% during trading on Wednesday after Morgan Stanley lowered their price target on the stock from $166.00 to $152.00. Morgan Stanley currently has an overweight rating on the stock. NVIDIA traded as low as $121.72 and last traded at $122.98. 135,322,529 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 267,683,500 shares. The stock had previously closed at $128.99.

Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group upped their target price on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Tigress Financial raised shares of NVIDIA from a “buy” rating to a “strong-buy” rating and raised their target price for the stock from $170.00 to $220.00 in a research report on Tuesday. Truist Financial boosted their price target on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Wells Fargo & Company increased their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Finally, Citigroup lifted their price objective on NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.23.

Insider Activity at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the sale, the chief financial officer now owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,108,348 shares of company stock valued at $146,506,958. Corporate insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Several institutional investors have recently modified their holdings of the stock. Quest Partners LLC purchased a new position in shares of NVIDIA during the 2nd quarter worth about $27,000. Christopher J. Hasenberg Inc bought a new stake in NVIDIA in the third quarter worth about $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of NVIDIA during the second quarter valued at approximately $31,000. Legend Financial Advisors Inc. bought a new position in shares of NVIDIA during the fourth quarter valued at approximately $34,000. Finally, West Financial Advisors LLC purchased a new stake in shares of NVIDIA in the third quarter worth approximately $36,000. 65.27% of the stock is owned by institutional investors.

NVIDIA Price Performance

The stock has a 50 day moving average of $137.91 and a 200-day moving average of $129.44. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $3.02 trillion, a P/E ratio of 48.58, a price-to-earnings-growth ratio of 2.65 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same period last year, the company earned $0.38 earnings per share. On average, equities research analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s dividend payout ratio is presently 1.57%.

About NVIDIA

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.